Australia, "A leading iron ore exporter globally"

Australia has huge iron ore reserves across the globe. Australia is among the leading exporters of iron ore globally. According to the Australia import export data, Australia exported over 88 billion dollars in FY 2022. Australia has contributed to over 54% share of the global iron ore exports. 

Australia iron exports showed great interest among Asian countries as the majority of the exports were to Asian countries only. As per Australia export data, China accounted for the maximum share of iron ore exports, having over 90% share. Japan was the second leading iron ore importer from Australia followed by Japan, South Korea, Taiwan, Indonesia and India.

Earlier in 2021, the major importers of Australian iron were Vietnam, Indonesia, Philippines and India. Some of the top Australian iron ore export companies were Posco International Corporation, Hope Dwons Marketing Company, BHP Billiton Marketing, Rio Tinto Commercial and Chichester metals.

The latest Australia customs data of August 2023 suggests that Australia has shipped over 72 million tons of iron during the period with an increase of 3% as compared to the previous month. Again, China was the top importer of Australian iron ore with shipments over 58 million tonnes. 

Whereas, South Korea and Japan were the second major market for Australian iron ore exports containing over 4.3 million tons of iron ore imports. During this year, Australia's Rio Tinto was the top exporter of iron ore with over 60% share in the country's overall iron ore exports.  Port Hedland of Australia accounted for the maximum amount of iron ore shipments having over 60% share. Cape Lambert, Dampier were other major ports in terms of ports volume share.

As compared to the previous year, Australia has shown an increase of 1.5% which is estimated to be over 876 million tons. Although, the forecasts for Australian iron ore exports show a decline of 11% for this fiscal year.  On the other hand, Australia import data reflects that the imports mostly came from India, Indonesia, Russia and Mexico.  

Also, Australia has become the leading destination for iron ore imports by Georgia. In the financial year 2022, Australia has exported over $1 million worth of iron ore exports to Georgia. In terms of iron ore exports, Australia has stiff competition from Brazil, China, India, Russia and South Africa. These are other leading markets for iron ore exports. 

Australia is in need of finding another major market to export its iron ore. Australian iron ore companies which are looking to grasp the global market like a pro, can now bank upon the intelligence offered by global import export data provider companies. This tool could help you pitch genuine buyers from over 200+ marketplaces in the world.

A Market intelligence tool can help you access global market demand for iron ores, price, top countries, importers, exporters and competitor companies. You can track their shipments, identify market risks and shortlist genuine clients for your business. It is the best cost-effective option that can evolve your decision making process and could help you achieve your company goals.